Monday, March 14, 2011

CAPE GIRARDEAU, MO (KRCU) - The first two months of 2011 showed improvement for Cape Girardeua’s real estate market as compared to the same time frame in 2010.

Tom Meyer of Exit Reality says that property is selling for about 90 percent of its listed price. Over the past year, this ratio has stood between 80 and 85 percent. This could either be the result of sellers confronting reality and setting lower listing prices … or that buyers are approaching buyers’ demand.

Meyer says that media reports have overexaggerated the role of foreclosures. Or at least that’s the case for Southeast Missouri.

“We do have foreclosures. That came about because of some lending practices. That’s true. But it’s not overwhelming us. We are a very diverse, conservative community,” Meyer says.